Canada closing in on deal to get Stellantis battery plant back on track: Champagne
OTTAWA — A deal to save a $5-billion electric vehicle battery plant in Windsor is inching closer, Industry Minister François-Philippe Champagne said Wednesday.
But the companies went back for more government support after the United States announced new production tax credits for EV battery makers as part of the Inflation Reduction Agreement. The subsidies are directly proportionate to the tax credits on offer under the IRA, which start at a tax credit of $35 per kilowatt hour from now until 2030, when they begin to be phased out. By 2033, they will be eliminated.
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